The Guardian reports that micro-blogging site Twitter is developing an all new 'pay by tweet' system in partnership with American Express, which could be a precursor for paid systems by other major social networks such as Facebook.
As a source of extra revenue, these paid systems will allow Twitter and Facebook to charge users for products online.
With a potential flotation planned for 2014, the 'pay by tweet' system currently in development generate increased income for Twitter, since accredited users will pay for real or virtual items through the site. The price of Twitter's 'promoted trend' service also recently increased.
The pioneering new service, created in partnership with American Express will allow users who link their cards to their Twitter account to buy products by simply tweeting a response to special offers made on site. Twitter will benefit from a share of the income generated alongside the company behind the products that are being promoted.
With access to 200 million users, and counting, the company can afford to charge more to businesses for advertising space on the site. The new system allows Twitter to claim a direct, proven benefit to advertisers thus allowing them to charge more for their advertising real estate.
This would be of great benefit to Facebook, which has been in the news throughout the last couple of years for the raging debate over the value of likes and the true benefits of advertising through Facebook. A plan to monetise the interaction between Facebook users and Facebook advertisers would be significant. For this reason, it is believed that a similar system is in development.